San Francisco, California, Sep 30, 2021 (Newsfile Corp via COMTEX) -- San Francisco, California--(Newsfile Corp. - September 30, 2021) - Hagens Berman urges Activision Blizzard, Inc. /zigman2/quotes/200717283/composite ATVI +0.53% investors with significant losses to submit your losses now .
Activision Blizzard, Inc. (ATVI) Securities Fraud Class Action:
The action challenges Defendants' downplaying of Activision's liability stemming from certain labor matters, falsely characterizing these proceedings as "routine" and "not significant."
In truth, Defendants concealed that: (1) Activision discriminated against female and minority employees, (2) Activision's HR department and executives failed to address numerous complaints about unlawful harassment, discrimination and retaliation, and (3) Activision's workplace culture would seriously impair the company's operations.
The truth emerged on July 20, 2021, when the California regulators sued Activision alleging the company's "frat boy" culture is a breeding ground for harassment and discrimination against female employees, who are subjected to constant sexual harassment, and high-ranking executives engaged in sexual harassment without repercussions.
Then, on Sept. 20, 2021, Activision Blizzard announced the SEC issued subpoenas seeking information about the company's disclosures and employment-related conduct.
Most recently, on Sept. 27, 2021, the company announced an $18 million settlement with federal regulators resolving sexual harassment, pregnancy discrimination and retaliation claims.
These events drove the price of Activision shares sharply lower.
"We're focused on investors' losses and proving Defendants lied about the seriousness of the company's employment practices," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Activision, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman .
Whistleblowers: Persons with non-public information regarding Activision should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ATVI@hbsslaw.com .
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About Hagens Berman
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